GGV Capital

Last updated
GGV Capital
Company type Private
Industry Venture Capital
PredecessorGranite Global Ventures
Founded2000;25 years ago (2000)
DefunctMarch 29, 2024 (2024-03-29)
FateSplit into Granite Asia and Notable Capital
Headquarters Menlo Park, California, United States
Products Investments
Website www.ggvc.com OOjs UI icon edit-ltr-progressive.svg

GGV Capital (Granite Global Ventures) was an American venture capital firm founded in 2000 and based in Menlo Park, California. Known for investing across the United States and Asia, the firm had become one of the most active American investors in the Chinese artificial intelligence industry. [1] In September 2023, amid heightened scrutiny of U.S. investment in Chinese technology, the firm said it would separate its U.S. and Asia businesses. On March 29, 2024, it ceased using the GGV brand and split into two successor firms: Notable Capital (U.S.-focused) and Granite Asia (Asia-focused).

Contents

History

GGV Capital was founded in 2000 as Granite Global Ventures. [2]

In 2005, investor Jenny Lee established GGV's Shanghai office. [3]

GGV opened a Southeast Asia office in Singapore in 2019. [4] In 2022, the firm had approximately $9 billion in assets under management. [5]

In July 2023, the United States House Select Committee on Strategic Competition between the United States and the Chinese Communist Party announced a review of several venture investors’ China exposure, including GGV. [6] In September 2023, GGV announced that it would spin off its China operations. [7] On March 29, 2024, GGV split into two firms and adopted new brands: Granite Asia for the Asia business and Notable Capital for the U.S. business. [8]

Investments

Since its founding, GGV has invested in more than 200 active companies across the United States, Latin America, Israel, Southeast Asia, China and India, with over 56 of which are valued at over $1 billion. [9] According to the Center for Security and Emerging Technology, GGV is "most active in financing Chinese AI companies." [10] [11] [1]

Following US sanctions on the Chinese AI firm Megvii, GGV announced in March 2024 that the firm was “actively seeking exit” from its investment. [12]

References

  1. 1 2 "America's plan to vet investments into China" . The Economist . June 22, 2023. ISSN   0013-0613. Archived from the original on 2023-06-22. Retrieved 2023-06-22. Consider GGV Capital, one of the most active American investors in Chinese AI companies, according to data from PitchBook. Our analysis of public disclosures suggests that six American pension funds and endowments with combined assets exceeding $600bn have committed around $2bn to GGV Capital's funds in the past decade.
  2. ↑ Taylor, Sophie; Lin, David (March 26, 2008). "GGV raises total capital managed above $1 bln". Reuters. Retrieved December 5, 2025.
  3. ↑ Mac, Ryan (March 25, 2015). "Cracking The Boys Club: Jenny Lee On What It Means To Be The Top Woman In Venture Capital". Forbes . Archived from the original on 2023-06-21. Retrieved 2023-06-21.
  4. ↑ "GGV Capital opens first Southeast Asia office in Singapore". DealStreetAsia. Archived from the original on 2023-06-21. Retrieved 2023-06-24.
  5. ↑ "Why GGV Capital's Hans Tung is OK with 2023 being 'the year of down rounds". TechCrunch . 2022. Archived from the original on 2023-06-21. Retrieved 2023-06-21.
  6. ↑ O’Keeffe, Kate; Jin, Berber (2023-07-19). "U.S. Venture Firms' Deals in China Tech Investigated by Congress Panel" . The Wall Street Journal . ISSN   0099-9660. Archived from the original on 2023-07-19. Retrieved 2023-07-19.
  7. ↑ Primack, Dan (September 22, 2023). "Venture capital firm GGV is splitting off its Chinese business". Axios . Archived from the original on September 26, 2023. Retrieved September 25, 2023.
  8. ↑ Loizos, Connie (2024-04-01). "GGV Capital is no more, as partners announce two separate brands". TechCrunch. Retrieved 2024-06-08.
  9. ↑ Rebecca Fannin (October 20, 2018). "What Makes GGV Capital Tick: It's Not Just $1.9 Billion In New Funds". Forbes . Archived from the original on May 2, 2019. Retrieved January 15, 2020.
  10. ↑ Ratnam, Gopal (2023-02-07). "Little-noticed US funding for China tech sector now draws scrutiny". Roll Call . Archived from the original on 2023-02-08. Retrieved 2023-02-08.
  11. ↑ Weinstein, Emily; Luong, Ngor (2023). "U.S. Outbound Investment into Chinese AI Companies". Center for Security and Emerging Technology . doi: 10.51593/20210067 . S2CID   256932971. Archived from the original on 2023-02-07. Retrieved 2023-02-08.
  12. ↑ Griffith, Erin (2024-02-21). "Silicon Valley Venture Capitalists Are Breaking Up With China". The New York Times . ISSN   0362-4331. Archived from the original on 2024-02-22. Retrieved 2024-02-22.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.